P.M. BRIEFING : Milken Sentence Due Next Week
From Times Wire Services
NEW YORK —
Michael Milken, Drexel Burnham Lambert Inc.’s former junk bond chief, is expected to be sentenced next week for six securities felonies, the judge hearing the matter said today. Milken, who pleaded guilty in April, faces a maximum prison term of 28 years.
A statement released by U.S. District Judge Kimba Wood said that she plans to decide this week on the date of the hearing to be held during the week of Nov. 12.
The sentencing had originally been scheduled for Oct. 1, but Wood decided to hold a pre-sentencing hearing to help her determine how stiff a sentence Milken should get. That hearing lasted about two weeks.
